As you know I bought some altcoins which found their bottoms taking into account the potential Bitcoin pump. Today I want to consider the targets for this pump.
Let’s take a look at the 4h timeframe of the BTCUSDT chart on the WhiteBit exchange. First of all we have to notice that the countertrend line breakout which has happened couple of days ago and today the price have successfully tested this line from up to down. Now we can see the bullish reaction. This is our first evidence for the pump.
The first target for the pump is the Fibonacci golden pocket area. Price have already touched this level, but looks like we will see this level again. Look also at the start of the rapid dump start at $22500. The imbalance candles have been formed there. Price have the high probability to reach at least 0.5 level of imbalance at $21400, or even the imbalance start at $22k. Only after that we can wait for the new dump.
Guys, I want you to understand important thing. Bitcoin will break $17500 down, but before it market maker wants to make you sure that the bull market did start. Now there are a lot of bears. $12k is the target for most of bloggers now.
Best regards, Ivan
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